| DEAL NAME | MSAC 2003-NC8 |
| Closing Date | 9/25/2003 |
| |
| Initial Collateral Characteristics | |
| Principal Balance ($) | 1,361,221,758 |
| |
| Sellers | NC(100.00%) |
| Servicers | LT(100.00%) |
| |
| Number of Loans | 8331 |
| Avg Loan Balance ($) | 163,392 |
| |
| Fixed/Floating | |
| % FRM | 21.93 |
| % ARM | 78.07 |
| |
| %IO | 1.63 |
| Wtd Avg IO Term (months) | 120 |
| |
| Wtd Avg Current Mortgage Rate (%) | 7.473 |
| Non-Zero Wtd Avg Margin (%) | 5.593 |
| Non-Zero Wtd Avg Initial Cap (%) | 1.530 |
| Non-Zero Wtd Avg Periodic Cap (%) | 1.529 |
| |
| Lien Composition | |
| % 1st Lien | 98.59 |
| % 2nd Lien | 1.41 |
| |
| Non-Zero Wtd Avg FICO | 600 |
| % FICO below 600 (inc. N/A) | 52.14 |
| % FICO below 550 (inc. N/A) | 23.01 |
| |
| Wtd Avg Comb Orig LTV | 80.18 |
| % CLTV > 80 | 47.76 |
| % CLTV > 90 | 5.67 |
| % CLTV > 95 | 1.37 |
| |
| % Silent Seconds | 11.89 |
| CLTV incl. all simul. liens (%) | 82.23 |
| |
| Documentation Level | |
| % Full Documentation | 58.52 |
| % Stated Documentation | 36.66 |
| % Limited Documentation | 4.82 |
| |
| % Owner Occupied | 94.37 |
| |
| Loan Purpose | |
| % Cashout Refinance | 58.70 |
| % Purchase | 25.08 |
| % Rate Term Refinance | 16.22 |
| |
| State Concentration (Over 5%) | CA(41.56%),FL(6.00%),NY(5.90%) |
| |
| % Prepay Penalty | 81.90 |
| |
| Wtd Avg Std Orig Term (months) | 354 |
| Wtd Avg Std Rem Term (months) | 352 |
| Wtd Average Loan Age (months) | 2 |
